Form 4 for WKHS Workhorse Group Inc.
Accepted 2023-05-04 00:00:00 ET · period of report 2023-05-02 · accession 0001628280-23-015741 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-05-04 | 2023-05-02 | WKHS | DAUCH RICHARD F | CEO, Dir | A - Grant | $2.02 | +1.49M | 3.22M | +85% | +$3.00M |
| D | 2023-05-04 | 2023-05-02 | WKHS | DAUCH RICHARD F | CEO, Dir | A - Grant | $0.00 | +495.1K | 495.1K | New | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock, $0.001 par value per share | 2023-05-02 | A | A | 1,485,149 | $2.02 | 3,224,329 | D | — | — | (F1) Represents shares of common stock granted to the reporting person on February 22, 2023, subject to stockholder approval of the Company's 2023 Long-Term Incentive Plan, which was obtained on May 2, 2023. The awarded shares vest in three equal amounts on May 2, 2024, February 22, 2025, and February 22, 2026, less shares relinquished to the Company by the reporting person out of, and to cover estimated tax withholding for, restricted shares previously granted subject to vesting. The stock price reflected in Table I Column 4 was determined based on fair market value as the closing trading price of the Company's common stock on February 21, 2023. |
| 2 | Derivative | Performance Share Units | 2023-05-02 | A | A | 495,050 | $0.00 | 495,050 | D | — · 2024-12-31 to 2024-12-31 | 495,050 Common Stock, $0.001 par value per share | (F2) Represents Performance Share Units ("PSUs") granted to the reporting person on February 22, 2023, subject to stockholder approval of the Company's 2023 Long-Term Incentive Plan, which was obtained on May 2, 2023. Each PSU represents a contingent right to receive, at the Company's option, either one share of common stock of the Company or an equivalent cash value. Between 0% to 200% of the reported shares will vest based on the Company's performance compared to certain peer issuers, measured by the total return to shareholders over a performance period ending on December 31, 2024. |